https://www.taxtmi.com/caselaws?id=181543 The ITAT dismissed the revenue's appeals against the Commissioner of Income-tax (Appeals) order for assessment years 1992-93 to 1994-95 and 1996-97. The issue revolved around the exclusion of beneficial interest incomes by the assessee, received from a family trust. The ITAT upheld the Commissioner's decision, stating that since the trustee had already been assessed under section 161(1) of the Act, no additional assessment was necessary in the hands of the beneficiary, in line with CBDT Circular No. 157. en-us Wed, 01 May 2002 00:00:00 +0530 Tue, 19 Apr 2016 16:43:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181543 The ITAT dismissed the revenue's appeals against the Commissioner of Income-tax (Appeals) order for assessment years 1992-93 to 1994-95 and 1996-97. The issue revolved around the exclusion of beneficial interest incomes by the assessee, received from a family trust. The ITAT upheld the Commissioner's decision, stating that since the trustee had already been assessed under section 161(1) of the Act, no additional assessment was necessary in the hands of the beneficiary, in line with CBDT Circular No. 157. Case-Laws Income Tax Wed, 01 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181543